UK companies that do a lot of business in euros could benefit from the sterling crash (Source: Getty)

Business Insider

On Tuesday, the FTSE 100 surged to its record high of 7,128 points, boosted massively by the crash in the pound that has seen Britain's currency fall more than 17 per cent since the vote to leave the European Union.

The index is full of mining companies, oil firms, and pharmaceutical giants that use the UK as a base but tend to denominate their assets in dollars.

About 70 per cent of the revenue of the companies that make up the FTSE 100 is derived from abroad, meaning they make more money when sterling is weak.

However, Credit Suisse argues that UK companies that do a lot of business in euros could be the next firms to benefit from the sterling crash, as the pound will continue to weaken against the single currency in the coming months, boosting companies that do a lot of business on the continent.

"The house view is GBPEUR 1.16 in 12 months’ time. However, we are slightly more bearish and would now expect GBPEUR to trade down to 1.05 (previously 1.10), having turned bearish on the pair a year ago. We think euro area GDP growth delivers (and maybe positively surprises) and Italian political risk is overstated. GBPEUR is only close to PPP," CS analysts led by Andrew Garthwaite argue in a note circulated to clients on Wednesday.

Business Insider decided to round-up the companies listed by Credit Suisse as having the highest levels of sales exposure on continental Europe, and will, therefore benefit substantially from the pound crashing even further against the euro.

Imperial Brands

What it does: Imperial Brands, once known as Imperial Tobacco, is the fourth largest cigarette company in the world, and owns many of the best known brands of cigarettes, including Davidoff and West, as well as Rizla rolling papers. It has a market capitalisation of roughly £37.3bn.

Continental Europe Sales Exposure: 40 per cent

Kingfisher

What it does:Kingfisher, one of just seven FTSE 100 companies with a female chief executive, is the largest home improvements retailer in Europe, owning companies including B&Q, Screwfix, and French chain Castorama.

Continental Europe Sales Exposure: 40 per cent

RPC Group

What it does: RPC isn't exactly one of the more glamorous companies out there, but it is pretty important. The company — which is listed on the FTSE 250 — manufactures plastic packaging, including the bottles for Nivea suncream, and Heinz tomato ketchup.

Continental Europe Sales Exposure: 46 per cent

Computacenter

What it does: As its name suggests, Computacenter deals with computers, providing IT services to many of the UK and Europe's largest firms. It operates in several EU countries, including France, Germany, the Netherlands, Belgium, and Luxembourg. It is listed on the FTSE 250.

Continental Europe Sales Exposure: 54 per cent

Bodycote

What it does: Another FTSE 250-listed company, Bodycote focuses on the treatment of metals, including coatings, heat treatment and metal plating. It had revenues of more than £500m in 2015, and has a market cap of £1.2bn.

Continental Europe Sales Exposure: 57 per cent

Vodafone

What it does: Vodafone is one of the world's largest telecoms companies on earth, bringing in revenues of more than £42bn ($59.95bn) of revenues every year, and a market capitalisation of around £56.5bn ($80.6 billion).

Continental Europe Sales Exposure: 58 per cent

Berendsen

What it does:Berendsen provides cleaning services for businesses across the UK and Europe. It is a FTSE 250 company, with revenues of more than £1bn in 2015.